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	<title>New answer on: Why Homeowners Insurance Goes Up?</title>

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		<title>By: David W. Clausen</title>

		<link>https://insurancelibrary.com/home-insurance/why-homeowners-insurance-goes-up</link>

		<dc:creator>David W. Clausen</dc:creator>

		<pubDate>Tue, 03 Nov 2015 17:01:08 +0000</pubDate>

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		<description><![CDATA[It&#039;s a common question we get in our office.  There&#039;s several reasons for your homeowners insurance rates going up.  Many insurance policies have an inflation guard built in to the policy.  Every year the dwelling amount will increase by a certain percentage.  The idea of the inflation guard endorsement is to keep up with the cost of construction.  The challenge is that this endorsement can have a compounding affect over the years.  Another reason your rates would go up is if the insurance company had a rate increase.  This happens frequently in NY.  If you see your rates going up by more than 5-10% per year I would contact your local independent agent and ask the reason for the increase and suggest they search the market for a better premium.  Hope this answer helps.]]></description>

		

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		<title>By: Jim Winkler</title>

		<link>https://insurancelibrary.com/home-insurance/why-homeowners-insurance-goes-up</link>

		<dc:creator>Jim Winkler</dc:creator>

		<pubDate>Mon, 05 May 2014 19:35:54 +0000</pubDate>

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		<description><![CDATA[Great question! There are a couple of reasons why your policy costs have gone up. The policy you have may have a clause that allows for an adjustment for price each year to match inflation, or rising home values. You may have filed a claim, or cancelled another policy that you had with that company that had allowed a discount, that is now no longer applied. If you live in an area where fires or natural disasters have just occurred, the company may be seeking to recapture lost profits from paid claims. Thanks for asking!]]></description>

		

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		<title>By: Tom Sheehan</title>

		<link>https://insurancelibrary.com/home-insurance/why-homeowners-insurance-goes-up</link>

		<dc:creator>Tom Sheehan</dc:creator>

		<pubDate>Mon, 05 May 2014 19:02:07 +0000</pubDate>

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		<description><![CDATA[The thing to kssp in mind with regard to virtually any type of insurance is that the premium charged by the insuring company reflects the risk they are insuring.  If your Homeowners&#039; premium has gone up and you have not filed a claim, more than likely it is because your policy, like most, has a form of &quot;inflation guard&quot; built in.  That is, each year, the amonut of coverage on the dwelling itself will increase by a certain percentage (in CT usually about 4%).  The increase in coverage will result in an increase in premium.  If you have suffered a loss and filed a claim, it is also possible that you are being charged a loss cost or as a result of the claim, have lost a claim free discount that you previously enjoyed.  Talk to your insurance professional about increasing your deductible and also about taking advantage of any discounts that are available.]]></description>

		

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		<title>By: David Pipes</title>

		<link>https://insurancelibrary.com/home-insurance/why-homeowners-insurance-goes-up</link>

		<dc:creator>David Pipes</dc:creator>

		<pubDate>Mon, 05 May 2014 18:21:54 +0000</pubDate>

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		<description><![CDATA[Many homeowners’ policies have a provision that adjusts the amount of coverage each year to reflect the increases in cost of construction.  This will add about 3% to the premium each year.  Your home ages by one year every year.  Many companies have a factor tied to the age of the home which increases the premium slightly.  If the company has paid a claim on the policy there may be an increased based upon an “experience” factor.  Occasionally the fire rating for a certain geographical area will change which also affects the premium.  The company could experience losses in excess to the total premiums in which case they can file an overall rate change with the state insurance commissioner. ]]></description>

		

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